"Turkey’s sovereign wealth fund is still in the works, but the critical problem at this stage is that while it is ‘sovereign,’ the key bit it lacks is the ‘wealth,’" Timothy Ash, a credit strategist at Nomura International Plc in London, said in an e-mail on Wednesday. "I am not sure that Turkey’s state-owned banks would want to be saddled with Deutsche Bank’s balance sheet at this stage -- they possibly have enough problems/challenges with their own in the context of the domestic growth slowdown."